Wex reports Q2 EPS $3.63, consensus $3.51

Reports Q2 revenue $621.3M, consensus $621.3M. “WEX achieved a strong first half of 2023 as we delivered another impressive quarter with record high second quarter revenue. We achieved this growth despite a dynamic macro-environment and declines in fuel prices. Our results were bolstered by strong growth in both our Benefits and Corporate Payments segments, while simultaneously delivering performance improvements in our credit portfolio. This quarter further demonstrated the resiliency of our business,” said Melissa Smith, CEO. “We continued to execute against our strategic initiatives during the quarter, including further expansion of our EV capabilities and the application of machine learning and artificial intelligence tools in our processes. As we head into the second half of 2023, I remain confident in WEX’s path forward and the long-term growth opportunities ahead.”